Common use of Compensation Eligibility Clause in Contracts

Compensation Eligibility. To be eligible for compensation the loan originator must fully comply with RESPA, TILA, TRID, HOEPA, the Fair Housing Act, and ECOA. Additionally, the originator must comply with all state and federal regulations as they apply to residential mortgages. Innovative conducts a quality control review on ALL funded loans and randomly completes top to bottom file audits. Originator will not be compensated for any funded transactions for which originator failed to follow acceptable professional and industry standards, for any loans that fail a quality control review/audit or for any loans found to contain fraud or misrepresentation. Innovative reports loan fraud to federal, state and local authorities

Compensation Eligibility. To be eligible for compensation the loan originator must fully comply with RESPA, TILA, TRID, HOEPA, the Fair Housing Act, and ECOA. Additionally, the originator must comply with all state and federal regulations as they apply to residential mortgages. Innovative Harmony conducts a quality control review on ALL funded loans and randomly completes top to bottom file audits. Originator will not be compensated for any funded transactions for which originator failed to follow acceptable professional and industry standards, for any loans that fail a quality control review/audit or for any loans found to contain fraud or misrepresentation. Innovative ▇▇▇▇▇▇▇ reports loan fraud to federal, state and local authorities